In old times, there was no notion of currency. That sounds strange as it clings to a lot of queries. We start wondering at that time how people acquire products they need. So, in old times, there was a barter system. Later on, the currency came into existence as a means of purchasing goods and commodities. People are now dealing with both paper and digital cash as a result of technological advancements.
In this regard, knowing the worth of currency is quite crucial. Importantly, when it is about digital currency. Nowadays, a currency meter is available to gauge its strength. Read more about how to avoid scams on safetradebinaryoptions.
One of the best elements is being able to assess precisely and anticipate currency strength.
We have selected some of the best currency strength meters in the market to assist traders. These meters can figure out which currencies are strong and which are weak in the future.
Logikfx Macro Currency Strength Meter
Rating Score: 4.7 / 5
It is one of the 1st currency strength meters on the market. That makes it stand out. As per user experience, it has received a 4.7 out of 5 rating from the users. Since 2018, professional traders, retail traders, and currency experts employing it. It is one of the best currency meters to try for free for the 7-day trial period.
In 2019, E-Forex Magazine named it the finest automation tool for retail traders, and it still holds that distinction. Moreover, the swing, counter-trend, and trend traders can all sustain from the Logikfx currency strength meter.
Let’s delve more into this meter’s features!
● Pricing (Scores 4/5)
Logikfx currency strength meter is a 7-day free trial and monthly subscription costing GBP 189 per month. Though more costly than other currency strength meters. The justification of price is to the fact that it is considered by some to be galaxies ahead in terms of accuracy.
● Currencies (Scores 4/5)
Nearly all tradable currencies are available in Logikfx’s Currency Strength Meter:
- Major Currencies: USD, CAD, EUR, GBP, CHF, NZD, AUD, JPY, HKD, HUF, NOK, RUB, ILS, THB, CNH
- Minor Currencies: TRY, MXN, ZAR, SEK, DKK, PLN, SGD, CZK
● Accuracy (Scores 5/5)
Its formula came into being after several economic releases and reports. It is one of the most accurate predictor of currency strength of any currency strength meter. It forecasts a variety of long-term trends.
In addition, receive data from a variety of references that work to eradicate any omission. These references verge to include Reuters, Bloomberg, trading economics, investing.com, and many others.
● Accessibility (Scores 5/5)
It may be accessed using any internet browser, making it convenient to use on any device without the need for downloads.
● Support (Scores 5/5)
It provides help by live chat, telegram, and email during Logikfx’s business hours (5 days a week).
● Reliability (Scores 5/5)
Logikfx’s macro currency strength meter has never been down since its release. The tool receives a perfect score for dependability.
● User Interface (Scores 5/5)
It has a user-friendly interface. Logikfx has infused many hours to provide efficiency.
It not only evaluates the odds from best to worst, but it also provides tools to help traders construct high-quality, long-term trading strategies.
● Community (Scores 5/5)
With the currency strength meter and other Logikfx technologies, users have access to an active forum. They respond quickly to user suggestions and requests for upgrades.
● Security (Scores 5/5)
The Logikfx website has an SSL certificate with privacy statements and cookie policies like GDPR compliant.
● Merits & Demerits:
- There is a free version available
- The basic formula
- Data feeds that are trustworthy and built-in
- Weekly updates to the user interface
- There are 23 different currencies included
- Any internet-enabled gadget may access it
- There are no downloads necessary
- A large trade community exists
- GDPR Compliant and SSL Secure
- Short-term scalping transactions are not supported
After evaluating a variety of currency strength meters, it’s no wonder that many of the options on the market fall short. Among many Currency Strength Meters, the Macro Currency Strength Meter meets vital quality criteria. It retains its dominance because its strength calculation algorithm is the only one on the market that incorporates the most up-to-date economic data from several sources.